Last October’s Sonoma and Napa county wildfires destroyed more than 5,000 homes in the Santa Rosa area alone. Do you know what one of the really unfortunate consequences was? Many did not have enough insurance coverage. When fire victims applied for claims to their insurance companies, many discovered their coverage would not provide enough to replace what was lost, and it would cost too much to rebuild their homes.
As of this publication, there are over 200 available lots for sale in the Santa Rosa area. Let that sink in. The cost to rebuild was too high for many families, and they were forced to relocate, sometimes to another county or state. They not only lost their homes, but in moving, they had to say goodbye to the community they placed their stakes in, the friends they made, the schools their kids attended, the places that were familiar to their family, and so much more without ever planning for this kind of change. That’s a lot of unexpected loss all at once.
However, it’s completely possible to avoid this situation should tragedy strike. If you’re a homeowner, let this horrible situation serve as inspiration to check your policies now, get an appraisal (if necessary), and update your policy coverage to make sure your assets are protected.
You don’t want to be UNDERINSURED.
Have a happy and safe Halloween, and rest easy knowing your assets are protected.